Cure Genetics and Frametact Reach a $60 Million Collaboration and Licensing Agreement for the Development of Gene Therapy for Familial Neurological Diseases
SUZHOU, China and HONG KONG, Sept. 14, 2023 /PRNewswire/ -- Cure Genetics and Frametact Limited, a biotech company specializing in researching and developing treatments for neurological diseases, jointly announce the signing of a collaborative development and licensing agreement. The partnership will leverage Cure Genetics' proprietary VELP™ platform to develop novel Adeno-Associated Virus (AAV) vectors for the treatment of familial neurological diseases. According to the agreement, Cure Genetics will receive an upfront and milestone payment totaling $60 million. Additionally, upon the market launch of the product, Cure Genetics will continue to receive sales royalties based on net revenue.
This collaboration will leverage the extensive expertise of Frametact in the domain of neurological diseases, combined with Cure Genetics' leading technology in AAV vector development and efficient in vivo AAV screening. Together, the companies will work on developing treatments for familial neurodegenerative diseases, such as Alzheimer's, Parkinson's, and Huntington's disease.
This collaboration, following a previous partnership with Boehringer Ingelheim, marks another significant step forward for Cure Genetics with a globally leading organization. It not only validates the global advancement of the VELP™ platform but also signifies a leap forward in Cure Genetics' internationalization process. Cure Genetics looks forward to working with Frametact to accelerate the development of gene therapy products for brain diseases.
About Frametact Limited
Frametact Limited was founded by a molecular neuroscience research team at The Hong Kong University of Science and Technology and Hong Kong Center For Neurodegenerative Diseases. The company integrates profound research technologies in neurobiology, neuropharmacology, and neurodegenerative diseases, including Alzheimer's disease, Frametact's mission is to leverage advanced neuroscience platforms to elevate the research and development of treatment products for neurological diseases.
About Cure Genetics
Cure Genetics, established in Suzhou in 2016, is a clinical-stage company dedicated to developing cell and gene therapies for solid tumors and common genetic diseases. With our innovative technology platforms, including the Universal CAR-NKT platform AIMS™ CAR-NKT and the unique AAV platform VELP™, Cure Genetics is at the forefront of original innovation, achieving a differentiated pipeline layout. By leveraging global collaborations and out-licensing, we actively drive research and development, and the commercialization of innovative drugs. We aim to provide effective treatment options for patients worldwide with unmet medical needs and to establish ourselves as a benchmark in the global field of cell and gene therapy.
Contact information: BD@curegenetics.com
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SOURCE Cure Genetics
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